Maybe with higher prices Trump can get them to drill baby drill.

SCOTUS handed Trump an out on tariffs. He doubled down anyway, using Trade Act §122. Problem: §122 is flat-rate—so he loses the ability to shake down firms/countries with carve-outs and punishments. Zombie tariffs, zombie politics, awesome stupidity. open.substack.com/pub/paulkrug...

Soak in the entitlement, the elitism, the open embrace of eugenics. They're so special, aren't they? www.nytimes.com/2026/02/17/w...

What's the best ownership structure for network monopolies like utilities? (a🧵) The three most, prevalent: (1) investor owned utilities,regulated by state public utility commissions; (2) municipalities; and (3) cooperatives, customer owned and regulated with a lighter touch.

An excellent chart with a depressing message. H/T @hannahritchie.bsky.social substackcdn.com/image/fetch/...

Oof. The Fed doesn’t control the federal deficit. At all. Always striking how even very smart, influential people get basic things about science and economics wrong.

The Obscure Power Sector Dictionary Capacity market: a way to protect the fossil fuel industry from competition while transferring data center electricity costs to residential and smaller commercial customers. Energy only market: a fair, efficient, often vilified alternative to capacity markets

Let's all agree to use Calibri font for all documents next three years.

Proposition: The quality of research papers is inversely related to the frequency of acronyms.

"The clearest sign that we are not actually in a bubble is the fact that everyone is talking about a bubble.” I heard this a lot during the .com & real estate bubbles, too. And the profit model in a highly competitive environment? 🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗🦗 www.nytimes.com/2025/12/09/t...

A *lot* of folks in our communities say they feel like the air is better. Some people reply saying that their feeling is psychosomatic, but I’m not sure that’s the case.

Anyone know why this Excess CAPE is so different from mine? For example, it says 1.65% today while mine is 0.59%. The CAPE is ~40 today and 10-year real rate is 1.91%. 1/40 - 0.0191 =0.0059 🤷 en.macromicro.me/charts/27100...

The WSJ doth try too hard to explain why this isn't a bubble. Yes, AI may change society and economy a lot. But it also looks *very* competitive. And likely more competitive in the future. So, hard to see how profits could be that large. Moreover, experts gains will likely be modest going forward.

The best Thanksgiving cartoon I’ve ever seen. (Even if that wasn’t the intent)

📢 Just accepted in #JAERE 📢 is now posted at @aereorg.bsky.social! 📍 Follow @aereorg.bsky.social to stay updated on all things REEP and JAERE. #EconSky 📈📉

Scary stuff. But interesting to take stock of how our institutions, including SCOTUS, have failed to live up to founding principles in the past. We corrected course then; hopefully we will this time, too. www.nytimes.com/2025/11/26/o...

"We're pro-affordability, but we're going to raise tariffs on you. We're pro-affordability, but we're going to undermine the Fed, which is going to potentially cause inflation. We're pro-affordability, but... we're going to rip the American health insurance system up."

"The end of progress against extreme poverty?" We have to work so that current trends are not good predictors of the future. Thanks: @maxroser.bsky.social @ourworldindata.org ourworldindata.org/end-progress...

'DOGE’s biggest “achievement” was shutting down the U.S. Agency for International Development. And the dismantling of USAID has left a legacy of death. According to one recent study, closing the agency “has already caused the deaths of six hundred thousand people, two-thirds of them children.” '

Global solar growth is up 64% in the first half of 2025 compared with 2024. Seems like we're at peak emissions in the electricity sector, with new solar+wind > demand growth. Trumpies will slow it a little in the US, but that hardly matters globally. ember-energy.org/latest-updat...

Actual causes of death in the US and media coverage of same. And then we wonder why people have such a skewed understanding of the world. @ourworldindata.org is a treasure. Thanks, @hannahritchie.bsky.social and colleagues. ourworldindata.org/does-the-new...

Our (formerly) best media selling out to the oligarchs--The NYT and Washington Post among them. The NYT is to media what Harvard is to academia. When they cave, the whole world should worry. paulkrugman.substack.com/p/talking-wi...

Wow: "The turnout rate of voters age 18 to 29 rose to 41.3 percent this year from 11.1 percent in the 2021 election for mayor. The share of total turnout composed of 18-to-29-year-olds grew to 16.6 percent from 8.9 percent four years ago" www.nytimes.com/2025/11/11/o...

Great Freakonomics episode on how the 1910 Flexner Report reshaped U.S. medical training — and its lasting influence. 🎧 freakonomics.com/podcast/the-... Also: new NBER paper by Karen Clay et al. on this history → www.nber.org/papers/w33937 Does this history contribute to today's doctor shortage?

Quite a reversal on the betting odds of a democratic house in 2026. electionbettingodds.com/House-Contro...

When my "dark" traits get the better of me, I ✔️the state of science @statmodeling.bsky.social "as long as this sort of research gets shoved into the world’s most prestigious scientific journals ... [and] gets uncritical press coverage, we’ll keep seeing more of it." tinyurl.com/4f2yhwtx Oh well

Today, Russia has a population roughly similar to that of the United States in the 1940s. Russia has lost roughly twice as many soldiers in its invasion of Ukraine as the United States did in World War II. www.economist.com/interactive/...

It took 15 years for the Nasdaq to return to .com peak after the bubble burst. Another ~10.5 years to grow 4.5 X. But this time is different, right? ...Right?

Great reporting on the market and consumer aspects of legacy coal power on Here and Now. Probably a much better spear point than climate. @tatecurtis.bsky.social does a great job on these issues as usual. 💡🔌 🏛️ www.wbur.org/hereandnow/2...

I wonder if something like this could ever happen here. It's not just Sarkozy, but many of his co-conspirators who have been punished for their crimes. www.nytimes.com/2025/09/25/w...

"Democrats should begin making it loud and clear that if and when MAGA is dethroned, those who broke the law, those who corrupted our democracy out of deference to Trump will be held accountable." open.substack.com/pub/paulkrug... Trump is weaker than he lets on. Stop the cowardice.

This story begs for more than "he said, she said" journalism. Explain the evidence, what's compelling, what's not, and what's required to go from correlation to causation. How, precisely, did Dr. Baccarelli supposedly cherry pick? Do better @nytimes.com www.nytimes.com/2025/09/23/h...

There he goes projecting again. Every attack is a confession. ‘Your Countries Are Going to Hell’: Trump Airs His Grievances at the U.N. www.nytimes.com/2025/09/23/u...

Jimmy Kimmel and other late-night comedians have certainly said things about me that I found offensive, even outrageous. It never crossed my mind to call up the networks and say, "Hey, get rid of this guy." Because that's not how America works. play.prx.org/listen?ge=pr...

Vertical rows are the agrivoltaic winner! “The vertical panels produce slightly less electricity—but with higher value, as generation peaks coincide with morning and late afternoon demand…The crops don't seem to mind the presence of solar panels and they like the wind protection they provide.”

USDA ends data collection on food insecurity and BLS delays a report on consumer expenditures without explanation Meanwhile, free speech for misinformers but not for anyone who criticizes Trump—that’s illegal now, says the King. They will find the crime. open.substack.com/pub/heatherc...

I didn't realize all of this increasingly destructive media consolidation stems from the Telecommunications Act of 1996. On Jimmy Kimmel: It's Time to Destroy the Censorship Machine and Repeal the Telecommunications Act of 1996 www.thebignewsletter.com/p/on-jimmy-k...

"it's time for Democrats .. to .. 1) acknowledge that American men are having real problems; 2) state clearly that MAGA has no solutions & is exploiting their distress for political ends; & 3) advocate for effective policies to help them, as well as promising responsible stewardship of the economy."

From things I've seen recently, I think many people would benefit from reading this. It's short, and it's free. 👉 rdcu.be/dbFbB

I am actually sad to have to say this since I have admired much about Disney CEO Bob Iger over the years, but what a profoundly quisling move this is by someone who knows better. It’s shameful and he has tarnished his once proud reputation.

Cancelling Paramount didn't hurt so bad. But the six year old (and maybe even the 14 year old) are going to be bummed about cancelling the Disney+ subscription.

The Clean Water Act improved water quality dramatically, except for agricultural nutrient runoff. Most US water quality problems come from fertilizer on corn. Is it driving higher cancer rates in Iowa? Nice to see Bloomberg put a spotlight on this important issue. tinyurl.com/yt3cjta8

Don't miss this: Paul Krugman discusses the book "Science Under Siege" with authors @peterhotezmdphd.bsky.social and @michaelemann.bsky.social Misinformation and attacks on science come from a coordinated effort by fossil fuel and supplement-shilling industries. open.substack.com/pub/paulkrug...

Krugman asks why Republicans support such obviously destructive things. Great examples in his column. But his essential answer is in the quote. "https://paulkrugman.substack.com/p/why-does-the-right-reject-progress.

Hawaii’s health insurers say they will cover COVID vaccinations for anyone older than six months, despite new FDA guidance that says children and healthy adults don’t need the shots.

As the world crumbles, we'll at least be entertained by watching Donald's head explode as long-term rates rise even as his subservient Fed lowers rates. open.substack.com/pub/paulkrug...

Neither financial markets, mainstream media, nor the general public seem to any idea of the grave monetary crises that the Trump's actions could induce. The world's best international macroeconomists are scared. You should be too. open.substack.com/pub/paulkrug...

1/9 Here's a nerdy 🧵 on bias stemming from measurement error. It can matter *a lot* in assessing impacts of climate change (and its precursor, CO2). The question here: How are higher CO2 concentrations affecting crop yields? 🌽

Nice graph. Notice the scale: TWh/month. Usually folks post capacity, which is usually misleading. Question: do you really think cancelling IRA will make a difference in larger scheme of things?